The Daily Populous Saturday June 1st, 2024 day edition
Authored by cbsnews.com and submitted by fdguarino

Rest assured, Costco and wiener fans — despite inflation having driven up the cost of groceries to their highest level in years, the budget retailer has no plans to raise the price of its fabled $1.50 hot dog combo special.

The wholesale club's new chief financial officer, Gary Millerchip, underlined that point during a call with Wall Street analysts this week to discuss its third-quarter results.

"To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe," Millerchip said, referring to Costco's hot dog and soda deal.

Although that might seem like a minor aside for a global retail chain valued at $354 billion, Costco's low-cost dog has become an emblem of the company's commitment to delivering value. In short, it's great marketing. Costco hasn't hiked the price of its hot dog since 1985.

Costco hasn't changed the price of its popular $1.50 hot dog and soda combo, seen here advertised in the food court of the retailer's Danville, Calif., store, since 1985. Smith Collection/Gado/Getty Images

Costco has even cracked down who uses its food court to ensure that only warehouse members can get discounted dogs. A basic Costco membership costs $60 annually, while the executive membership, which has perks like a 2% cash-back reward, runs $120 per year.

Costco has interest in emphasizing its affordable prices as inflation-weary consumers pull back on everything from fast food to takeout coffee. Target, Walmart, Walgreens and other retailers have also recently dropped their prices on a range of goods.

Of course, the Costco dog isn't the only product out there whose price seems like it's from yesteryear. Other popular items whose inflation-adjusted prices have remained relatively low, or even dropped, over the years include coffee, televisions and plane tickets.

Meior on May 31st, 2024 at 20:42 UTC »

Ingvar Kamprad, founder of ikea, famously responded "over my dead body" when it was suggested to raise the price of the 50¢ hotdog.

Some time after he passed it was announced that the regular hotdog would go to 90¢ and the veggie one to 70¢. The public outcry was so big that they had to immediately retract it and apologise.

deathbrusher on May 31st, 2024 at 20:36 UTC »

It's crazy how heroic Costco seems next to every other grocer by just not bending everyone completely over.

MannyLaMancha on May 31st, 2024 at 20:24 UTC »

"Craig Jelinek, Sinegal's successor as CEO, revealed in 2018 that he approached Sinegal about raising the price of the hot dog combo, saying, 'Jim, we can't sell this hot dog for a buck fifty. We are losing our rear ends.' According to Jelinek, Sinegal replied, 'If you raise the fucking hot dog, I will kill you. Figure it out.'"